Ahmedabad’s GIFT City, the Gujarat International Finance Tec-City, is fast emerging as a major financial and urban hub, with total assets under management crossing $100 billion. The development surge has been further accelerated by Ahmedabad’s bid to host the 2030 Commonwealth Games, putting the city in the national and global spotlight.
The International Financial Services Centre Authority (IFSCA) now oversees over 1,034 registered entities, including 38 banks, across banking, insurance, fund management, fintech, and other sectors. The robust growth signals GIFT City’s transformation from a business district into a comprehensive financial ecosystem.
Infrastructure development is keeping pace with its financial growth. Around 930 residential units are already completed, with 7,000 more under construction. The city’s masterplan allows for up to 62 million sq ft of built-up space, of which nearly 30 million sq ft has been allotted. Experts anticipate close to 50% of the total development to be ready within the next 2–3 years.
GIFT City is designed as a fully integrated smart city. Its underground utility tunnels carry power, water, telecom, and waste systems, ensuring a “dig-free” surface as the city expands. Social and recreational amenities, including a 27-acre central park, riverfront development, jogging and cycling tracks, sports courts, plazas, and food and retail zones, aim to attract residents as well as office-goers.
The CWG 2030 bid has added urgency and visibility to the city’s growth, with improved connectivity on the horizon via metro expansion, a direct airport link, and high-speed rail plans. Analysts note that these developments position GIFT City not just as a financial hub, but as a modern, self-contained smart township, potentially serving as a blueprint for future integrated urban zones in India.
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